PwC's Central Bank Forum brought together senior central bankers from around the world to discuss the current issues driving their strategic, operational and policy agendas.
We believe that the next few years will be much more challenging than perhaps some realise. It would be simplistic to believe that once economic and financial conditions fully stabilise, central banks can revert to the pre-crisis norm of one objective (the inflation rate) and one tool (the interest rate). Instead, a tumultuous period in central banking is beginning to emerge which is changing central banking as we know it. For example, central banks are likely to continue to play a leading role in stabilising financial systems and whole economies long after the memory of the financial crisis has faded.
Now more than ever we need to come together, learn from each other’s experiences and try to develop strategies to manage these changes.
We organised a world-class field of practitioners to help facilitate discussions on some of these big issues over two days, with sessions on global economic trends, bank resolution, monetary policy, ethics in central banking, data mining and balance sheet management, to name a few. This report is designed to provide a record of the issues debated, and a platform for ongoing discussions among the participants. To ensure full and free discussion, the participants’ comments are un-attributable under the Chatham House rule.